RDIF and RCIF to invest in facilitating exports of ecologically clean food to China

Press release, 04.07.2017

Moscow, 4 July 2017 – The Russian Direct Investment Fund (RDIF) and the Russia-China Investment Fund (RCIF is incorporated by RDIF and China Investment Corporation) have signed an agreement to work with Russian Export and FRC International companies. The partners will operate under the common trade name of Dakaitaowa (meaning “to open a matryoshka doll” in Chinese) and will further grow exports of ecologically clean food to Chinese markets. The signing ceremony was held today as part of the Chinese President Xi Jinping’s state visit to Russia.

The Agreement entails a joint development of the project and utilisation of its infrastructure to export Russian-made ecologically clean food products and distribute them on the Chinese market. The investments will facilitate further sales growth, promote cooperation with retail chains and e-trading platforms in China, as well as boost the number of users of www.dakaitaowa.com in order to market quality Russian goods more efficiently.

Kirill Dmitriev, CEO of RDIF and Co-CEO of RCIF, noted: “The Chinese market is very large and has a high demand for quality food products. Growing demand for Russian products from Chinese consumers provides a unique opportunity, and we will be developing the infrastructure to make the Chinese and other overseas markets more accessible to Russian companies to exploit opportunities and expanding production.”

Igor Chaika, Chairman of the Board of Russian Export and FRC, noted: “We believe that now is the right time to be delivering Russian food products to China and this project shows great promise. The project is unique in that it will give Russian businesses the opportunity to sell products through existing Chinese sales networks without having to create their own infrastructure. We welcome both RDIF and RCIF as partners and look forward to working together to assist Russian producers to explore the Chinese market and substantially expand production.”

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Russian Direct Investment Fund (RDIF) is a Russian sovereign fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

Russia-China Investment Fund (RCIF) is a joint fund established by the Russian Direct Investment Fund and China Investment Corporation (CIC). The activity of RCIF is aimed at development of bilateral economic, trade and investment relations between Russia and China. Further information can be found at www.rcif.com

Russian Export and First Russian Cross-Border International Trading ltd (FRC) are wholly owned by Russian members and operate as a single project for exporting Russian food products to China and selling them through online channels and conventional stores. The Company owns www.dakaitaowa.com, a proprietary online platform, which enables Chinese consumers to buy Russian products over the Internet. It also has warehouses in Shanghai and Hangzhou to ensure efficient deliveries of goods. First deliveries were made in September 2016, and currently the Company supplies over 250 t of products to China every month. The Company’s website in Russia is www.dakaitaowa.ru